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Montana Mega Millions Jackpot Annuity Payout Schedule for Aug 25, 2020

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The tax information provided here is based on 2021 federal marginal rates and state tax rates.  It shows the final federal and state tax burdens each year, not the amount initially withheld by the lottery.

The Mega Millions annuity jackpot is awarded according to an annually-increasing rate schedule, which increases the amount of the annuity payment every year.  The table below shows the payout schedule for a jackpot of $57,000,000 for a ticket purchased in Montana, including taxes withheld.

Please note, the amounts shown are very close approximations to the amount a jackpot annuity winner would receive from the lottery every year.  They are not intended to specify the exact final tax burden, which may vary depending on how the winner chooses to invest or dispense their prize money, as well as deductions claimed.

State:

Montana

Drawing Date:Tue, Aug 25, 2020
Jackpot:$57,000,000
Federal Tax:37% marginal rate
State Tax: 6.9%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$857,932$281,507$59,197$517,227
2$900,828$297,379$62,157$541,292
3$945,870$314,044$65,265$566,561
4$993,163$331,543$68,528$593,092
5$1,042,821$349,916$71,955$620,951
6$1,094,963$369,208$75,552$650,202
7$1,149,711$389,465$79,330$680,915
8$1,207,196$410,735$83,297$713,165
9$1,267,556$433,068$87,461$747,027
10$1,330,934$456,518$91,834$782,582
11$1,397,481$481,140$96,426$819,914
12$1,467,355$506,993$101,247$859,114
13$1,540,722$534,139$106,310$900,273
14$1,617,758$562,643$111,625$943,490
15$1,698,646$592,571$117,207$988,868
16$1,783,579$623,996$123,067$1,036,515
17$1,872,758$656,993$129,220$1,086,545
18$1,966,395$691,639$135,681$1,139,076
19$2,064,715$728,017$142,465$1,194,233
20$2,167,951$766,214$149,589$1,252,148
21$2,276,348$806,321$157,068$1,312,959
22$2,390,166$848,434$164,921$1,376,811
23$2,509,674$892,652$173,168$1,443,855
24$2,635,158$939,081$181,826$1,514,251
25$2,766,916$987,831$190,917$1,588,167
26$2,905,262$1,039,019$200,463$1,665,780
27$3,050,525$1,092,766$210,486$1,747,272
28$3,203,051$1,149,201$221,011$1,832,839
29$3,363,203$1,208,458$232,061$1,922,685
30$3,531,364$1,270,677$243,664$2,017,023
Total$57,000,000$20,012,168$3,932,998$33,054,832

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Note: The Net Payment total above may be a few dollars off from the total after-tax annuity amount shown on the Jackpot Analysis page because the Jackpot Analysis page shows an average annual payment, whereas we calculate an exact payment here.